Exchange trading scheme LetsLink UK launches in Bourne

A new local exchange trading scheme has been launched in Bourne, allowing people to exchange all kinds of goods and services with one another, without the need for money.

The initiative launched by LetsLink UK is helping to “revitalise” communities in South Kesteven, helping everyone to give and take, connect to new resources and find a genuine community identity.

LETS use a system of community credits, so that direct exchanges do not have to be made. People earn LETS credits by providing a service, and can then spend the credits on whatever is offered by others on the scheme: for example childcare, transport, food, home repairs or the hire of tools and equipment.

LETS operates by mutual credit. A group of people come together and agree a name for the currency. They create a directory of offers and wants to let each other know what they are willing to trade and can contact each other at any time. Organisers may also hold social events to encourage members to meet up.

The currency is created as credits move from one account to another so new members may spend before they earn. The sum of all accounts is always zero at any one time. No interest is charged or paid for accounts which are “in commitment” or “in credit”.

LETS offer equal opportunities to all - whether employed or unemployed, financially secure or on low income, able or disabled.